Servo Motors and Drives Market

Servo Motors and Drives Market worth $16.8 billion by 2025

According to the research report, the "Servo Motors and Drives Market by Offering (Hardware, Software and Services), Product Type (Servo Motors, Servo Drives), System, Voltage, Communication Protocol, Brake Technology, Material of Construction, Industry, and Region - Global Forecast to 2025" is projected to grow from USD 13.9 billion in 2020 to USD 16.8 billion by 2025; it is expected to grow at a CAGR of 4.0% from 2020 to 2025. The key factors fueling the growth of this market include the growing automation in factories, rising adoption of international standards for motor efficiency, development of user-friendly motion control libraries and packages for motors and drives, and increasing production of vehicles.

Browse 103 market data Tables and 66 Figures spread through 212 Pages and in-depth TOC on "Servo Motors and Drives Market by Offering (Hardware, Software and Services), Product Type (Servo Motors, Servo Drives), System, Voltage, Communication Protocol, Brake Technology, Material of Construction, Industry, and Region - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/servo-motors-and-drives-market-1127.html

Software and services offering segment of servo motors and drives market is projected to grow at highest CAGR from 2020 to 2025

The software and services segment of the servo motors and drives market is projected to grow at the highest CAGR from 2020 to 2025. Servo software are useful for various purposes, such as installation setup, networking, motion controlling, and other configuration requirements. The software also have real-time diagnostic capabilities to detect the presence of any critical emergency in the system and inform the operator about it instantly. The development of independent networking software for motion control and process control machines to help in their seamless integration with servo motors and drives is expected to lead to an increase in the demand for software and services.

Servo motors product type segment accounted for largest share of servo motors and drives market in 2019

In 2019, the servo motors segment accounted for the largest share of the servo motors and drives market, by product type. Servo motors are further segmented into AC servo motors and DC servo motors. AC servo motors provide the benefits of high torque per weight, efficiency, reliability, and low frequency noise, which has them favorable in applications across diverse end-user industries. AC motors such as synchronous AC servo motors with permanent magnet offer high level of accuracy and precision, making them suitable for equipment such as drill bits packaging machines, injection molding machines, and speed controllers machine used in the packaging industry. DC servo motors are commonly used in applications that require low power output as they are cost-effective in comparison with AC servo motors for such applications.

Low voltage segment accounted for largest share of the servo motors and drives market in 2019

In 2019, the low voltage segment accounted for the largest share of the servo motors and drives market, by voltage. Low-voltage servo motors and drives are compatible for use in mobile applications that demand high acceleration and braking processes, low noise, and high efficiency. Their compact size results in a smaller number of cables, which improves the overall diagnostics capabilities, making them highly useful for various control systems equipment in printing & paper, steel, cement, power, and petrochemicals industries.

Rotary system segment is projected to grow at a higher CAGR from 2020 to 2025

The rotary segment of servo motors and drives market, by system, is projected to grow at a higher CAGR during forecast period. Rotary servo motors allow interaction between all magnets and the windings in all positions. This results in low installation costs of the rotary servo motor in comparison with linear servo motor. Rotary servo motors offer benefits such as high-resolution precision feedback, low energy consumption, high response, and high torque density. This makes rotary servo motors useful for applications in packaging, healthcare, and automotive & transportation industries. Advancements in rotary system-based servo motors and drives, including the introduction of stainless steel, food-grade, ingression protection (IP)-grade, and hygienic servo motors, have led to an increasing demand from industries such as food processing, pharmaceuticals, and petrochemicals.

Permanent magnet segment projected to grow at highest CAGR from 2020 to 2025

The permanent magnet brake technology is projected to grow at the highest CAGR from 2020 to 2025. Permanent magnet brakes are small and have a low weight, resulting in large torque per size density. This has made them highly useful for applications requiring almost zero backlash, such as pick-and-place robots and other applications in the pharmaceuticals & healthcare industry. The increased use of permanent magnet brakes in industries such as automotive & transportation, pharmaceuticals & healthcare, textile, and packaging has propelled their market growth.

Industrial Ethernet communication protocol segment projected to grow at highest CAGR from 2020 to 2025

Based on communication protocol, the industrial Ethernet segment is projected to grow at the highest CAGR during the forecast period. Protocols such as EtherCAT, Ethernet/IP, PROFINET, POWERLINK, SERCOS III, and CC-Link IE, that provide real-time control are based on the industrial Ethernet architecture. Industrial Ethernet is mostly suited for industrial environments with harsh conditions where the factory components and equipment are exposed to extreme temperatures, humidity, and vibration. Industrial Ethernet offers various benefits, such as higher speed, increased connection distance, and the ability to connect more nodes than other network protocols. These benefits make industrial Ethernet highly suitable for industrial applications.

Other materials segment accounted for largest share of servo motors and drives market in 2019

In 2019, the others segment of the servo motors and drives market, by material of construction, accounted for the largest share of the market. Other materials used in the design and manufacturing of servo motors and drives include carbon steel and aluminum. The low cost of the servo motors and drives built using these materials has led to their market growth. Servo motors and drives constructed from non-stainless steel material have the ability to withstand dust, high-pressure washdown water jets, and corrosion prevention. This has led to the increased adoption of servo motors and drives with aluminum housing, which is Teflon-coated and hard coat anodized,in various industries, such as packaging, food processing, pharmaceuticals & healthcare, and petrochemicals.

Automotive & transportation industry segment accounted for largest share of servo motors and drives market in 2019

The automotive & transportation industry accounted for the largest share of the servo motors and drives market in 2019. Servo motors and drives are used in various automotive control systems, such as fuel injection systems, anti-lock braking systems, cruise control systems, and pedal systems, to control vehicle speed. Motion control systems having servo mechanisms also find use in manufacturing processes, such as auto body painting, vehicle assembling, material handling, automated guided vehicle (AGV) chassis marriage systems, and assembly presses. Servo motors and drives are central to the various reforms aimed at enhancing the speed, accuracy, and productivity of manufacturing in the transportation industry. Servo systems improve the logistics and supply chain processes through the use of robotics and various control systems, thereby, driving their demand in transportation industry.

APAC is projected to hold largest share of servo motors and drives market in 2025

APAC is expected to hold the largest share of the servo motors and drives market in 2025. Massive investments in industrial automation to enhance the operations of the manufacturing industry are driving the growth of the servo motors and drives market in the region. This has led to growing industrialization along with the rising use of robots to achieve high productivity and efficiency in industrial applications. the high demand for consumer electronics including smartphones, home appliances, smart home devices, and wearable devices have resulted in the adoption of flexible flow line manufacturing processes, including the use of robot arms, which is expected to further drive the demand for servo motors and drives in the region. The demand for energy-efficient automobiles such as electric vehicles and hybrid vehicles owing to the formulation of environment norms by governments of different countries has also led to the high adoption of DC servo motors in the APAC region.

Yaskawa Electric (Japan), Siemens AG (Germany), Mitsubishi Electric (Japan), Schneider Electric (France), Rockwell Automation (US), ABB (Switzerland), Nidec Corporation (Japan), Fuji Electric (Japan), Delta Electronics (Taiwan), and FANUC Corporation (Japan) are the key players operating in the servo motors and drives market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, and acquisitions to increase their market share.

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Report Code
SE 1990
PR Published ON
5/12/2020
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